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As the growth numbers for April-July rolled in, consumers appeared to have shrugged off the impact of demonetisation after a brief pull-back. Fast-moving consumer goods posted an impressive 13.9 per cent growth in volumes over the same period last year, according to data from Nielsen, and demand continued to expand through July. As the festive season wore on, however, the mood changed.
This article appeared in Business Standard on 25th October, 2017.
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